$49,900
Land
Listing Office: RES Realty
Is Merrifield, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Merrifield has remained a Neutral Market.
Key Takeaway
Merrifield is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Merrifield, MN
How much do homes in Merrifield, MN cost?
Median Sold Price
$430,000
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$29,000(-6.3%)
Key Takeaway
Homes in Merrifield have sold for 6.3% less than they did a year ago.
Summary: The median home sold price in Merrifield was $430,000 in November 2024, down 6.3% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $211K | +15.6% |
| 2 Bedrooms | $483K | $461K | -4.6% |
| 3 Bedrooms | $459K | $425K | -7.4% |
| 4 Bedrooms | $1.0M | $504K | -49.6% |
| 5+ Bedrooms | $420K | $495K | +17.9% |
Summary: Merrifield housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.6%, 2 bedroom homes decreased by 4.6%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 49.6%, and 5+ bedroom homes increased by 17.9%.
Median Sold Price Compared To Nearby Cities
| Center Township | $379.9K | $445K | +17.1% |
| Merrifield | $459K | $430K | -6.3% |
Housing Supply in Merrifield, MN
How many homes are available in Merrifield, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 26 | 21 | -19.2% |
Summary: The Merrifield real estate market had 21 homes for sale in November 2024, a 19.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 4 | 2 | -50.0% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Merrifield housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 20%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Merrifield, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Merrifield in November 2024, down by 50.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Merrifield, MN
How long does it take to sell a home in Merrifield, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 13 Days | 31 Days | +138.5% |
Summary: Homes in Merrifield had an average of 31 days on market in Nov 2024, up by 138.5% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Merrifield has remained consistent over time.
Summary: During November 2024, 3 homes were sold in Merrifield; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
